ibs news: us round-up


IBS Journal September 2015


Campus Federal Credit Union opts for Alkami’s ORB digital banking platform


Louisiana-based Campus Federal Credit Union has selected Alkami Technology’s ORB (Online Relationship Builder) digital banking platform for its 42,000 members. It is being integrated with the credit union’s Fiserv XP2 core banking system. Alkami describes ORB as an ‘intelli-


gent content delivery system’ that extends across all devices (desktops, tablets and smartphones) and is back office agnostic. It can be deployed onsite or provided on a hosted/SaaS basis. Alkami is a relative newcomer in the omnichannel banking space, having been set up in Texas in 2009. Speaking at the BAI Retail Delivery conference in Chi- cago last November, it said its ORB prod- uct had 40 takers by that point in the US banking and credit union sector, amount- ing to 1.5 million online and mobile banking users. ‘Alkami has been selected to replace the online banking solutions from every one of its major competitors in the space,’ the vendor stated, adding that it has dou- bled its workforce in the course of the last year to cope with the demand.


ORB users include: ■


■


Vibrant Community Credit Union (here, the system interfaces to Fiserv’s DNA core banking platform);


■


Credit Union of America (interfacing to Jack Henry’s Symitar at the back-end);


■


Educators Credit Union (also Symitar at the back office);


IN BRIEF


Massachusetts-based Avidia Bank has partnered with FIS to offer cardless ATMs to its customers. The new feature will allow customers to use the ATM machine through a mobile app,


then step up to the machine to receive their cash and services. Part of an ongoing drive by Avidia Bank to offer its customers mobile banking capabilities, the new feature joins other services powered by FIS at Avidia Bank, including remote cheque deposits and P2P payments. The bank’s app will use touch ID and passcodes on the device itself (as opposed


to generating temporary authorisation codes) to prevent the possibility of card skim- ming and fraud. Avidia Bank is one of the first financial institutions in its state to implement such


an ATM scheme, something Mark O’Connell, CEO of the bank, thinks will drive cus- tomers towards it. People want to access their accounts ‘how and where they choose’ he adds. —Alex Hamilton


First Tech Federal Credit Union (Fiserv’s DNA for core software);


■


Idaho Central Credit Union (also Fiserv’s DNA);


■


Spokane Teachers Credit Union (D+H Corporation’s Phoenix for core).


Antony Peyton


‘Frankenstein project’ comes to an end as FIS’s IBS bags another US bank


Louisiana-based Community Trust Bank of Ruston has switched from FIS’s Bankway to its Integrated Banking Services (IBS) core banking system – a move designed to halve processing costs. The bank had been using Bankway


since 1986, but says due to rapid expan- sion it needed a new system to match the demands of its customers. Its assets have doubled since 2010 and now stand at $3.73 billion – based on its 2014 financial results. The conversion itself was two years in


the making, and the bank says it decided to stick with the same vendor because –


according to Drake Mills, Community Trust CEO – FIS ‘supported us very well’ and ‘so it made sense to go from one FIS-managed solution to another’. Mills says the bank did look at other sys-


tems but other core solutions on offer were not as ‘tightly integrated with online banking’. The new system gives the bank the


ability to provide electronic notices and statements on loan accounts, offers the ability to send financial files to treasury customers directly, consolidates mortgage loan servicing and ‘enhances’ automated clearing house payment origination capa-


© IBS Intelligence 2015


bilities and reporting. The old system was a mixture of small


upgrades and purchased third-party soft- ware to keep up with its asset growth and diversification into more commercial prod- ucts. This was a system that cost the bank $8.6 million in processing last year, and one Mills describes as ‘somewhat of a Franken- stein project’. The bank expects the processing costs


to drop by as much as half and says the new contract calls for FIS to charge the bank by accounts, rather than by assets. Antony Peyton


www.ibsintelligence.com 29


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40  |  Page 41  |  Page 42  |  Page 43  |  Page 44  |  Page 45  |  Page 46  |  Page 47  |  Page 48  |  Page 49  |  Page 50  |  Page 51  |  Page 52  |  Page 53  |  Page 54  |  Page 55  |  Page 56